If the euro stays there will be at least another 10 years of high unemployment and low or nil economic growth in the eurozone. The only positive thing is that the UK is unlikely to adopt the euro in my lifetime. 😀
I hardly think the existence of Euro is to blame for high unemployment or low growth in the Eurozone, Sterling is not exactly an awesome currency, nor the Dollar with the US not even triple AAA rated any longer. I rather think the blame for the result of the economic collapse, lies somewhere other than our currencies, as does the solution.
The Euro’s actual existence and future, is my essential point, and it now seems beyond doubt, as it appears conclusive now, that the debate which has raged back and forth on this site over the past several years, is effectively now over.
The Euro is not going to collapse. There is no return to 17 individual currencies. There is no possibility of some bizarre two tier Euro scenario. Can we accept that all those arguments and hypotheses are redundant?
We have a single Euro currency, it is what it is, across a huge trading and economic bloc. It is no more likely to go anywhere right now than the Yen, Rupee, Peso, or Rand.
It is what it is, and it is therefore pointless arguing in future threads about the economy, or heaven help us sometimes on here Spanish property, it is now pointless arguing that the Euro might somehow be removed or replaced.
The Euro is here and is as permanent and prominent as the Dollar and probably far more important and relevant than that single island currency Sterling.